S&P 500 Settles Lower Following Labor Report; Market Volatility Increases
Portfolio Pulse from Lisa Levin
The S&P 500 closed lower on Wednesday due to an unexpectedly strong labor market report, increasing the likelihood of a Fed rate hike. Advance Auto Parts shares fell 35% after reporting worse-than-expected Q1 results and reducing full-year guidance. The Nasdaq 100 also fell, with losses in shares of NVIDIA and Microsoft.
June 01, 2023 | 9:42 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Advance Auto Parts shares fell 35% after reporting worse-than-expected Q1 results and reducing full-year guidance.
Advance Auto Parts reported worse-than-expected Q1 financial results and reduced its full-year guidance, which led to a significant drop in its share price. This negative news directly impacts the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Microsoft shares fell as the Nasdaq 100 closed lower on Wednesday.
Microsoft shares fell along with the Nasdaq 100, which closed lower on Wednesday due to the strong labor report. The labor report increases the likelihood of a Fed rate hike, which can negatively impact stock prices, including Microsoft's.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
NVIDIA shares fell as the Nasdaq 100 closed lower on Wednesday.
NVIDIA shares fell along with the Nasdaq 100, which closed lower on Wednesday due to the strong labor report. The labor report increases the likelihood of a Fed rate hike, which can negatively impact stock prices, including NVIDIA's.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50